Pepe Coin Rises Over 30% in One Week: Why Did Meme Coin Start to Rise?

Memecoin, which became a sensation earlier this year Pepe Coin (PEPE) appears to have returned to the mainstream crypto scene.

According to CoinGecko, its price is up almost 32% in the last seven days and 10% in the last 24 hours.

Pepe Coin

One of the reasons behind the rise of PEPE cryptocurrency There may be a general revival in the sector. The global crypto market cap increased by around 3% on a daily basis, while most digital currencies made significant gains.

meme coinAnother factor that plays a role in the positive performance of may be the activities of whales. Lookonchain revealed that two recently created wallets spent a total of over $800,000 to purchase 1.08 trillion PEPE coins. took out.

In addition, a different investor, who had previously made more than $2.30 million in profits trading the asset, re-entered the ecosystem by purchasing $645,000 worth of PEPE. “And this guy spent 550 ETH ($951K) to buy 1.04T PEPE on August 29,” data analysis platform Web3 reminded. It’s worth noting that PEPE is not the only meme coin rising today (September 29), as we reported. On the other hand, ApeCoin increased by over 10% on a daily basis and 12.5% ​​on a weekly basis.

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